Best Forex Brokers in Portugal 2019

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Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

XTB

Regulated By:

BaFin, CNMV in Spain, CySEC, FCA, IFSC

Foundation Year
2002
Headquarters:

N/A

Min Deposit
$250
Visit Broker

Your capital is at risk

eToro

Regulated By:

ASIC, CySEC, FCA

Foundation Year
2007
Headquarters:

N/A

Min Deposit
$200
Visit Broker

76% of retail investor accounts lose money

FBS

Regulated By:

CySEC, IFSC

Foundation Year
2009
Headquarters:

N/A

Min Deposit
$1
Visit Broker

Your capital is at risk

Libertex

Regulated By:

CySEC

Foundation Year
2014
Headquarters:

N/A

Min Deposit
$10
Visit Broker

Your capital is at risk

Alpari

Regulated By:

FSC

Foundation Year
1998
Headquarters:

N/A

Min Deposit
$null
Visit Broker

Your capital is at risk

ATFX

Regulated By:

FCA

Foundation Year
2014
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your Capital is at Risk

Portuguese Forex Brokers Comparison Table

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Broker
Rating
Regulations
Headquarters Country
Foundation Year
Min Deposit
Max Leverage
Trading Platforms
Publicly Traded
Restricted Countries
Trading Desk Type
Currencies
Commodities
Indices
Stocks
Cryptocurrency
ETFs
Bonds
Futures
Options
Mutual funds
Deposit
Withdrawal
commission on trades
fixed spreads
OS Compatibility
Mobile trading
promotions
Visit Broker
BaFin, CNMV in Spain, CySEC, FCA, IFSC

United Kingdom

2002

$250

1:200

MT4

No

United States

STP

Yes

Yes

Yes

Yes

No

Yes

Yes

No

No

No

Credit Card, Neteller, PayPal, Skrill, Wire Transfer

Wire Transfer

Yes

Yes

N/A

N/A

No
Open Account

Your capital is at risk

ASIC, CySEC, FCA

Cyprus

2007

$200

1:30

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, ZuluTrade

No

Canada, Indonesia, Iran, Isle of Man, Israel, Jamaica, Japan, Niger, North Korea, Sweden, Syria, Trinidad and Tobago, Turkey, United States

Market Maker, No dealing desk, STP

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer

Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer

Yes

No

N/A

N/A

No
Open Account

76% of retail investor accounts lose money

CySEC, IFSC

Russian Federation

2009

$1

1:3000

MT4, MT5

No

Russian Federation, United States

ECN, No dealing desk, STP

Yes

No

No

No

Yes

No

No

No

No

No

Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer

Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer

No

Yes

N/A

N/A

No
Open Account

Your capital is at risk

CySEC

Cyprus

2014

$10

1:600

N/A

No

Armenia, Australia, Azerbaijan, Belgium, Canada, Kosovo, Kuwait, Latvia, Lebanon, New Zealand, Paraguay, Philippines, Poland, Solomon Islands, South Africa, South Sudan, Sri Lanka, Turkmenistan, Uganda, United Kingdom, United States, Venezuela, Virgin Islands, British

Market Maker

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Credit Card, Moneta.ru, Neteller, QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money

QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money

Yes

No

N/A

N/A

No
Open Account

Your capital is at risk

FSC

Mauritius

1998

$null

1:1000

MT4, MT5

No

United States

ECN, STP

Yes

Yes

Yes

Yes

No

No

No

No

No

No

Credit Card, FasaPay, Neteller, OKPay, Skrill, Webmoney, Wire Transfer

FasaPay, Neteller, OKPay, Skrill, Webmoney, Wire Transfer

Yes

Yes

N/A

N/A

No
Open Account

Your capital is at risk

FCA

United Kingdom

2014

$100

1:200

MT4

No

Bosnia and Herzegovina, Canada, Cuba, Ethiopia, Iran, Iraq, Japan, Mexico, North Korea, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Turkey, United States, Vanuatu, Yemen

No dealing desk, STP

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Credit Card, Neteller, Skrill, Wire Transfer

Credit Card, Neteller, Skrill, Wire Transfer

Yes

No

N/A

N/A

No
Open Account

Your Capital is at Risk

How to Choose a Forex Broker in Portugal

There is no global central marketplace in forex market which means every part of the world manages its online trading industry in a different way. Portugal, which has a healthy economy, is a ripe place for forex brokers that want to offer regulated brokerage services to clients. Portugal is big on consumer rights and as such the environment proves to be a healthy one for both local brokers and offshore ones offering their services into the country.  When you are looking for a Portuguese broker one of the first areas you should consider after regulation, is the overall customer service, does the broker offer its services in the local language? The broker should also offer a wide asset selection and good trading conditions. We’ll discover what that means later in this article.

General Regulation & Portuguese Regulation

Comissão do Mercado de Valores Mobiliários (CMVM) is the Portuguese Securities Market Commission for forex broker regulation. They are able to offer their licensed member brokers the ability to offer their services across the whole of the Eurozone, and likewise other European regulated brokers may offer their services inside Portugal. Ever since they came into existence in 1991, CMVM has been responsible for monitoring the conduct of every individual and firm that operates in the securities and financial markets. This established regulatory authority has complete supervisory and financial autonomy, when it comes to regulating the market’s various financial entities.  They take the matter of regulation very seriously, as their primary goal to is to keep local investors safe from unscrupulous dealings.

Trading Platform & Software

As a Portuguese forex trader, what are some of the trading platforms and software available to you? There are a number of different proprietary and turnkey software systems that Portuguese forex brokers provide for trading. Besides the standard MT4 program, there are also JAVA-based trading software available and software such as NinjaTrader. Platforms ideally should also include a web-based and mobile version.

Commissions & Spreads

When it comes to a broker’s salary, their income primarily comes from the commissions and spreads. There are some brokers that opt-out of receiving any commission and solely depend on a percentage of the spread, while other brokers will choose to receive a commission and a small percentage of the spread (this is the difference between the buy and sell price). It is important that you are aware of the risks of dealing with a wider spread, because it can greatly reduce the amount of profit you receive.

Account Types

Portuguese brokers will provide a variety of different account types. Some of the most accounts are:

  • Micro Account – Sometimes offered as a starter, practice account.
  • Mini Account – An account that is perfect for beginning traders;
  • Standard Account – The most commonly used trading account.
  • VIP Account – A favorite account for institutions and high-end traders. The conditions are normally better and include perks, such as free signals, withdrawal privileges and a free VPN service that will increase the platform’s speed

Customer Service

With forex trading, you can trade 24 hours a day. As such you would expect the benefit of having customer service around the clock and the ability to actually talk to a live person instead of an automated system. You would of course expect the customer care to be available in the Portuguese language.

Additional Services

Additional services include free trade alerts, an education center on trading, daily news and market analysis, plus an economic calendar. Other features might include a copytrading service and sometimes bonuses.

Conclusion

In order to have a fulfilling trading experience as a Portuguese trader, it’s important to first choose a reliable broker that offers you good conditions. Below we have outlined the very brokers that work within the Portuguese market.